BU111 Lecture Notes - Lecture 15: Sole Proprietorship, Flat Tax, Hair Iron
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Document Summary
Elements of political factors include: law and regulations, taxes, trade agreements or conditions, political system, political stability. Significance: protection of customers, support/protection and regulation of domestic businesses, opportunity creation in foreign markets. Role of government: regulator/law maker: regulates business activity; influences technology standards- crtc, purpose, promotes competition, competition act, small business support, promotes innovation. Intellectual property rights: protects consumers, hazardous product act, achieve social goals, universal healthcare, education, protect the environment, canada water act, fisheries act. Buyers: more people increase buyer power. Suppliers: essential services from the government. If canada signs new trade agreement, balance of trade and currency might get affected: customers have access to new goods if there is a trade agreement with another country for their products. If canada signs agreement, access to more stuff around the world. A change in one pest factor will usually lead to a change in the others. Increase: if there is a subsidy provided to help firms.
